TOSHIBA PLANT SYSTEMS & SERVICES : Summary of Consolidated Financial Results for the Year Ended March 31, 2016

Summary of Consolidated Financial Results for the Year Ended March 31, 2016

Translation‌‌‌‌

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Year Ended March 31, 2016 (Based on Japanese GAAP)

Company name: Toshiba Plant Systems & Services Corporation Stock exchange listing: Tokyo

Stock code: 1983 URL http://www.toshiba-tpsc.co.jp

President and Chief Executive Officer,

May 12, 2016

Representative:

Inquiries:

Representative Director

Vice President and Director, Head of Accounting Division

Ryo Matsukawa

Yoshikatsu Tanaka TEL [phone]

Scheduled date of ordinary general meeting of shareholders: June 23, 2016 Scheduled date to file Securities Report: June 23, 2016

Scheduled date to commence dividend payments: June 2, 2016 Preparation of supplementary material on financial results: Yes

Holding of financial results meeting: Yes (for institutional investors and analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2016 (from April 1, 2015 to March 31, 2016)

2. Consolidated operating results Percentages indicate year-on-year changes

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent
   Year ended March 31, 2016	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   	219,353	0.3	18,648	10.1	18,720	5.8	11,242	11.9
   Year ended March 31, 2015	218,652	20.0	16,941	4.1	17,687	5.7	10,044	2.2

   Earnings per share	Diluted earnings per share	Profit attributable to owners of parent/equity	Ordinary income/total assets	Operating income/net sales
   Year ended March 31, 2016	Yen	Yen	%	%	%
   	115.40	-	9.5	8.0	8.5
   Year ended March 31, 2015	103.11	-	9.1	7.9	7.7

3. Consolidated financial position

   Total assets	Net assets	Equity ratio	Net assets per share
   As of March 31, 2016	Millions of yen	Millions of yen	%	Yen
   	238,254	121,281	50.8	1,241.90
   As of March 31, 2015	229,436	116,059	50.4	1,188.00

4. Consolidated cash flows

   Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
   Year ended March 31, 2016	Millions of yen	Millions of yen	Millions of yen	Millions of yen
   	25,210	16,332	(2,444)	91,633
   Year ended March 31, 2015	(5,070)	8,696	(1,490)	53,127

5. Cash dividends

   Annual dividends per share					Total cash dividends (Total)	Dividend payout ratio (Consolidated)	Ratio of dividends to net assets (Consolidated)
   1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
   Year ended March 31, 2015	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
   	-	7.50	-	0.00	7.50	730	7.3	0.7
   Year ended March 31, 2016	-	25.00	-	12.50	37.50	3,653	32.5	3.1
   Year ending March 31, 2017 (Forecast)	-	19.00	-	19.00	38.00	29.6

6. Forecast of consolidated financial results for the year ending March 31, 2017 (from April 1, 2016 to March 31, 2017)

   Percentages indicate year-on-year changes

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent		Earnings per share
   Six months ending September 30, 2016	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   	95,000	8.2	7,200	10.5	7,500	15.8	5,000	25.3	51.32
   Full year	230,000	4.9	18,700	0.3	19,000	1.5	12,500	11.2	128.31

7. Notes

8. (1) Changes in significant subsidiaries during the year ended March 31, 2016 (changes in specified subsidiaries resulting in the change in scope of consolidation):

   No

9. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

   Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
   Changes in accounting policies due to other reasons:	No
   Changes in accounting estimates:	No
   Restatement of prior period financial statements:	No

10. Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2016

97,656,888

shares

As of March 31, 2015

97,656,888

shares

Number of treasury shares at the end of the period

As of March 31, 2016

243,256

shares

As of March 31, 2015

242,415

shares

Average number of shares during the period

Year ended March 31, 2016

97,414,180

shares

Year ended March 31, 2015

97,414,954

shares

Consolidated financial statements Consolidated balance sheets

(Millions of yen)
As of March 31, 2015	As of March 31, 2016
Assets
Current assets
Cash and deposits	5,857	6,430
GROUP FINANCE DEPOSITS	64,871	85,534
Notes receivable, accounts receivable from completed construction contracts and other	111,201	92,565
Electronically recorded monetary claims - operating	182	508
Costs on uncompleted construction contracts and other	19,736	25,288
Deferred tax assets	4,060	3,953
Other	4,715	5,172
Allowance for doubtful accounts	(210)	(312)
Total current assets	210,414	219,141
Non-current assets
Property, plant and equipment
Buildings and structures	8,996	8,882
Accumulated depreciation	(7,329)	(7,331)
Buildings and structures, net	1,666	1,550
Machinery and vehicles	2,979	2,755
Accumulated depreciation	(2,324)	(2,092)
Machinery and vehicles, net	654	662
Tools, furniture and fixtures	4,655	4,413
Accumulated depreciation	(3,652)	(3,406)
Tools, furniture and fixtures, net	1,003	1,007
Land	3,419	3,152
Leased assets	135	75
Accumulated depreciation	(60)	(36)
Leased assets, net	75	38
Construction in progress	-	279
Total property, plant and equipment	6,819	6,692
Intangible assets	275	252
Investments and other assets
Investment securities	666	197
Long-term loans receivable	2	2
Deferred tax assets	10,539	11,198
Other	840	893
Allowance for doubtful accounts	(121)	(123)
Total investments and other assets	11,927	12,168
Total non-current assets	19,021	19,112
Total assets	229,436	238,254

(Millions of yen)
As of March 31, 2015	As of March 31, 2016
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts and other	50,782	47,635
Income taxes payable	5,659	5,888
Advances received on uncompleted construction contracts	11,024	13,349
Provision for directors' bonuses	79	93
Provision for warranties for completed construction	500	1,048
Provision for loss on construction contracts	-	204
Other	12,919	13,234
Total current liabilities	80,965	81,455
Non-current liabilities
Provision for directors' retirement benefits	22	27
Net defined benefit liability	32,071	35,197
Other	317	292
Total non-current liabilities	32,411	35,517
Total liabilities	113,376	116,972
Net assets
Shareholders' equity
Capital stock	11,876	11,876
Capital surplus	20,910	20,910
Retained earnings	85,919	94,726
Treasury shares	(163)	(164)
Total shareholders' equity	118,543	127,348
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	188	-
Deferred gains or losses on hedges	(220)	(290)
Foreign currency translation adjustment	733	(11)
Remeasurements of defined benefit plans	(3,516)	(6,068)
Total accumulated other comprehensive income	(2,814)	(6,369)
Non-controlling interests	330	303
Total net assets	116,059	121,281
Total liabilities and net assets	229,436	238,254